Supplementary Provisions, Article 8Transitional Measures Concerning Qualifications of Directors, etc.
第八条（取締役等の資格に関する経過措置）
With regard to the directors, company auditors, and liquidators who are in office at the time this Act comes into effect, the provisions of Article 254-2, items (i) and (ii) of the Commercial Code after amendment (including as applied mutatis mutandis pursuant to Article 280, paragraph (1) and Article 430, paragraph (2) of that Code and Articles 32 and 34 and Article 75, paragraph (2) of the Limited Liability Companies Act; the same applies hereinafter in this paragraph) do not apply until the close of the first shareholders meeting convened after this Act comes into effect; provided, however, that this does not apply to a person who comes to fall under item (i) or (ii) of Article 254-2 of the Commercial Code after amendment after this Act comes into effect.
この法律の施行の際現に在任する取締役、監査役及び清算人については、改正後の商法第二百五十四条ノ二第一号及び第二号（同法第二百八十条第一項及び第四百三十条第二項並びに有限会社法第三十二条、第三十四条及び第七十五条第二項において準用する場合を含む。以下この項において同じ。）の規定は、この法律の施行後最初に招集される株主総会の終結の時までは、適用しない。ただし、この法律の施行後に改正後の商法第二百五十四条ノ二第一号又は第二号に該当することとなつたものについては、この限りでない。
With regard to the qualifications of directors, company auditors, and liquidators concerning a person who has been sentenced to a penalty for an act committed before this Act comes into effect, the provisions then in force continue to govern, even after this Act comes into effect.
この法律の施行前にした行為について刑に処せられた者に係る取締役、監査役及び清算人の資格に関しては、この法律の施行後も、なお従前の例による。
company auditor
監査役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)), whose job is to audit how the directors carry out their duties and to write an audit report on it (Article 381, paragraph (1)). Not an outside accountant — that is the financial auditor (会計監査人) — and not a director: a company auditor may not also be a director or employee of the company or its subsidiaries (Article 335, paragraph (2)). The term normally runs to the annual shareholders meeting for the last business year ending within four years of election (Article 336, paragraph (1)).
Written by AI using Companies Act, Arts. 329, 335, 336, 381 as a reference.
director
取締役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)). Every stock company has at least one (Article 326, paragraph (1)). Where there is no board of directors, the directors run the company's business unless the articles of incorporation say otherwise (Article 348, paragraph (1)), and each of them represents it unless the company has chosen representative directors (代表取締役) or others to do that (Article 349, paragraphs (1) and (3)). Where there is a board (取締役会, board of directors), the directors are its members, and the board decides the business and normally chooses the representative directors from among them (Article 362). The term normally runs to the annual shareholders meeting for the last business year ending within two years of election (Article 332, paragraph (1)).
Written by AI using Companies Act, Arts. 326, 329, 332, 348, 349, 362 as a reference.
shareholders meeting
株主総会
The meeting of a stock company's shareholders, and the body through which they decide the company's basic matters. It elects the directors and company auditors (Companies Act, Article 329, paragraph (1)) and changes the articles of incorporation (Article 466). In a company without a board of directors it may decide any matter about the company; in one with a board, only what the Act or the articles of incorporation leave to it (Article 295). An annual shareholders meeting must be called after the end of every business year, and another may be called whenever needed (Article 296). A resolution normally passes by a majority of the votes present, with holders of a majority of the votes entitled to vote attending (Article 309, paragraph (1)).
Written by AI using Companies Act, Arts. 295, 296, 309, 329, 466 as a reference.